| 单词 | price elasticity |
| 释义 | price elasticity The ratio of a proportional change in quantity supplied or demanded to a proportional change in price. The elasticity of supply is (p/q) (dq/dp), where p is price and q is quantity. The elasticity of demand is usually defined as -(p/q) (dq/dp), so that it is normally positive; not all authors adopt this usage, which needs to be checked. |
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